Head of Legal and Compliance, Clair
Wage advance service
Open for applications
Wage advance service
21-100 employees
Open for applications
21-100 employees
Company mission
To create financial freedom for America’s workforce.
Role
Who you are
- We are seeking an experienced Head of Legal and Compliance with a background in consumer finance, regulatory compliance, privacy, and data use to join and lead our growing Legal & Compliance team
- 6-8 + years of combined experience at a top-tier law firm and/or in-house legal department, with a focus on regulatory compliance, federal preemption issues, fintech counseling, consumer protection and data privacy matters
- Experience providing product counseling for technology companies, digital lending, wallets or payments systems, alternative payments, BNPL, or other similar consumer financial services
- Understanding of federal and state laws related to consumer privacy and data use
- Deep understanding of the regulatory landscape for consumer credit products and services; including TILA/Reg. Z, UDAAP, ECOA/Reg. B, FCRA/Reg. V, EFTA/Reg. E, payday lending, short-term lending, and similarly applicable state laws
- Experience working with US financial services regulators (state or federal)
- Persistence, drive, and a goal-focused mindset as you own projects from initiation to completion
- Strong attention to detail and ability to effectively prioritize tasks within a fast-paced environment
- JD from a top law school and member in good standing of a US state bar
What the job involves
- As the Head of Legal and Compliance, you will advise and collaborate with our product, engineering, business, and marketing departments to build Clair’s consumer financial technologies and services
- You will also sit on the executive team, leading the regulatory compliance strategy we consider to be our moat and also work closely with Clair’s Payroll and Workforce Management partners to advise on risk and product strategy
- Provide comprehensive first-line legal support for initiatives related to Clair’s consumer credit products and services, advising on legal and regulatory issues relating to consumer finance, data privacy, payments, and other relevant areas
- Work cross-functionally to coordinate legal advice and drive optimal outcomes for the business
- Serve as a legal thought partner to product, design, marketing, engineering and data teams, ensuring that consumer protection, licensing requirements, and privacy considerations are integrated into new initiatives from the outset
- Build out Legal & Compliance team to support all commercial and regulatory compliance needs, driving hiring, onboarding and day-to-day management of the existing and future team members
- Draft and negotiate agreements and terms to support strategic partnerships with fintech partners and third-party providers
- Guide the business by navigating the regulatory landscape for Clair’s consumer credit products. Provide legal advice on product design and strategy and proactively identify risks and recommend mitigation strategies
- Be an advisor to the company and a critical part of the growth of the company. As we grow and succeed, you will help scale the development of our legal department and the entire company
Our take
Clair is a social impact fintech startup offering instant no-fee pay access, so that gig companies and HR tech can offer hourly workers cash advances on their earnings. It aims to both mitigate the risks taken on by workers in the growing gig economy, and help gig companies recruit and retain their workforce in a market characterized by fluctuating demand.
Clair secured a high level of funding from Thrive Capital, a big win given their reputation for funding and building game-changing fintech. This is a game that certainly looks set to change - with 80 million hourly workers and 60 million gig workers, this precariously positioned segment of the US workforce is both large and growing.
Mastercard, MetaBank, and Galileo have all thrown their weight behind Clair to provide the financial infrastructure that makes their payment model possible. Following the recent surge in the gig economy, Clair offers both an attractive and necessary tool to sustain the livelihoods of the people working in this sector.
Kirsty
Company Specialist at Welcome to the Jungle
Insights
Company
Funding (last 2 of 4 rounds)
Jul 2023
$25m
EARLY VC
Jun 2021
$15m
SERIES A
Total funding: $45.1m
Company benefits
- 100% Medical, Dental, & Vision Coverage, with option to extend to your family
- Fully-paid parental leave
- Company-sponsored 401k, HSA, and FSA
- Unlimited vacation
- Work from home setup allowance
- Access to your earnings every day on Clair
- Company-sponsored short-term and long-term disability insurance
Company values
- Focus on What Matters
- Bring Others Along
- Adapt to Make an Impact
- See Feedback as a Gift
- Take Ownership
- Listen, Learn, then Speak Boldly
- Never Miss an Opportunity to Have Fun
Company HQ
Flatiron District, New York, NY
Articles
Leadership
Alex Kostecki
(CRO)Alex worked at Deloitte for 6 years, spending time in strategy and operations consulting before co-founding Clair.
Nico Simko
(CEO)Nico worked in Fintech M&A at J.P. Morgan and is part of the Finance Council for Forbes.
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